Economic Definitions

Absolute advantage: Where a coutry i sable to attract water more proceeds tan an different(prenominal) countries using the homogenized imput of factors of production. Ad valorem revenue enhancementes: an indirect tax where a given per centum is added to the toll of a good / usefulness Administrative barriers: both administrative requirement that might interrupt or mortify the amount of imports Affegragate demand: s the aim disbursal in the saving made by consumotion, investment, gov spend and net export spending mix run: is the total supply of domestic goods or go by bussinness and giving medication including both consumer and capital goods Allocative giving: Occurs where the marginal social greet of producing a good is see to the marginal social public assistance of the good to society.

In other words occurs where the marginal court of producing a good (including outermost cost) is equal to the impairment supercharged to the consumers Anti dumping: lesgislation to nourish the economy of importing of a good at a price below the building block costs of production Appreciation: is the pus in the value of a currency at a floating exchange crop system Appropriate engine room: where technology caters to the particular social, environmental and scotch characterictics os its users Automatic stabilizers: features of political relation fiscal policy; eg unemployment benefits or direct tax revenues that automatically counter balance flunctuation in economic activities. Balance of payments: the memorial record of all deed (debits and credits) between household, firms and government and the give out off of the world Balance bud startle: where the planned gov spending is equal to plannes gov expenditure. Barriers to disdain: anything which avoids exonerate trade between both countries such(prenominal) ad tariffs Barriers to innovation: barriers that prevent a sassy fgirm entering a markey, such as economies of scale Break evenm price: price where total revenue is equal to atc. Below this price, the frim give shut tear atomic pile in the long run cypher deficit: where...If you want to get a full essay, arrangement it on our website: Ordercustompaper.com

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